Jeffrey Sonnenfeld, CEO of the Executive Leadership Institute, said Fortune 500 CEOs will not support Donald Trump because of his economic plans.
Sonnenfeld said on CNBC:
We look back at the data, and over the past four months we’ve been pointing out that no Fortune 500 CEO has endorsed former President Trump. It was a historic breakthrough that goes back to William Howard Taft and Calvin Coolidge and Ronald Reagan and the Bush family and everything.
is that it has 40% to 60% public and financial support. It’s zero now and it was zero in 2016. This is extremely inflationary. A blanket 10% tariff on all imported products is crazy. This would certainly lead to a 3% increase in inflation and a collapse in GDP.
And then he, that’s before adding to the deficit in a retaliatory gesture. He wants to cut $5 trillion in taxes, but there are no corresponding cuts and spending. So these, these are the questions.
Asked where these CEOs stood in the election, Sonnenfeld said: “They are going to be reluctant Biden voters. They don’t want the fabric of society to be torn apart.
video:
Jeffrey Sonnenfeld, CEO of the Executive Leadership Institute: No Fortune 500 CEO supports Trump. This is a historic breakthrough. Trump’s economic plan scares them. This is extremely inflationary. This will lead to higher inflation and a collapse in GDP… pic.twitter.com/eJUMyuQPg4
— Biden-Harris HQ (@BidenHQ) June 24, 2024
CEOs like the stability of government. As Rachel Maddow points out, the executive is concerned with the rule of law, not the law of the ruler.
Trump’s tariff plan will devastate the U.S. and global economies. This would be a disaster that would fuel inflation and leave the country and the world in a worse position than during the pandemic. The CEOs are not allies of the Democratic Party, but they do believe in the stability of government and democracy. What Trump plans to do to the economy is insane.
When other countries don’t pay tariffs but the American people do, when America’s Fortune 500 CEOs sound the alarm, it’s time for even small government non-Democrat voters to take notice.
